He said: "The figures show that more deals are closing as it is a settled market now. It is easier to close deals than it was five or six years ago."
In 1997, PFI debt in the UK stood at £1bn.
Morrison added that borrowing this year might be slightly down on last, but would still be significantly higher than at any other time since PFI was introduced.
Noteworthy projects include a £600m deal with the Ministry of Defence at Colchester garrison in Essex and a £1bn contract for the Allenby and Connaught barracks refurbishment in the South-east.
The amount borrowed was highest in the transport sector, which accounted for nearly £3.8bn.
The bank that raised the most money for PFI deals last year was the Royal Bank of Scotland (see graph).
It organised finance on 12 contracts worth nearly £1.5bn. They included a £177m Docklands Light Railway extension in south-east London and a £333m Metronet bond.
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